RE: RE: WARRANTS Sedar Filing- Financial Statement - February 27, 2012
COMMON SHARES
December 31, 2011 - 152,242,916 common shares
OPTIONS
December 31, 2011 - Vested and exercisable - 11,296,500
Weighted average exercise price = .33
WARRANTS
December 31, 2011 = 50,808,500
Weighted average exercise price = .22*
FULLY DILUTED
December 31, 2011 = 214,347,916 common shares
*If warrants were exercised, Company would have $11,177,870 - (50,808,500 x.22 = $11,177,870)
>>Exclude warrants and value of same exercised since December 31, 2011.<<
With this in mind, we need to see increase of share price, greater than .22 per share and share price must show strength to stay above .22.